At Harmony we probably take the benefits of using a modern and flexible PSA too much for granted, it’s what we spend our lives perfecting.
Because of this, it always comes as a surprise when people ask us what the benefits are.
We’ve written material on this subject before, but actually not for a while. So here are 8 key benefits you should expect from your PSA, assuming you have bought one that is correctly matched and aligned to your business.
Benefit #1: Elimination of errors and time wasted double-keying data. The establishment of a single version of the truth for all to see has immense benefits throughout the organisation.
Benefit #2: Improved operational efficiency in project management and service desk i.e. in the delivery of your services. The presentation of work to staff in a clear and prioritised form for them to act upon can easily account for a 10-15% productivity improvement.
Benefit #3: Improved staff utilisation, allowing you to push more work through the same team, increasing revenue with no impact on costs. If each of your billable resources bills just 30 minutes a day more, that’s a 6% increase in profit.
Benefit #4: Elimination of revenue leakage. Typically, services businesses regularly provide services without billing for their time. This often arises from a confusion over contract terms, where the employee will naturally do the work first and ask what to bill it to later. Ensuring that contract coverage is clear in the context of the service ticket eliminates this leakage.
Benefit #5: Improved visibility of the sales process. Placing the sales process in the full business context, not in a stand-alone CRM platform, ensures no opportunity slips by and increases close rates.
Benefit #6: Improved market flexibility. Having the confidence to change your product offering in response to competitor threats with ease and without introducing manual work-arounds or back-office confusion is key to maintaining growth in an increasingly challenging marketplace.
Benefit #7: Improved billing efficiency. Getting correct invoices issued with the least manual intervention and at the earliest opportunity improves cash-flow and reduces working capital/borrowing needs.
Benefit #8: Improved customer understanding. Understanding the 360 degree view of each customer and the profitability of each contract enables you to optimise your business based on evidence and fact, not anecdote.
These are the clear, tangible and measurable benefits of adopting a PSA tool that suits your business and models your products and service delivery methodology fully.
If your PSA (or other operational platform(s)) are not delivering all these benefits, perhaps it is time for a change.
About the Author: Harmony Business Systems Ltd (HBS) is the company behind HarmonyPSA, the most complete cloud PSA software on the market. Developed with functionality to cater for even the most complex needs of MSPs, VARs, ISVs and Professional Services organisations, HarmonyPSA truly is the next generation of PSA systems. Follow HarmonyPSA on Twitter, LinkedIn or Website